Figma (NYSE:FIG) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Figma (NYSE:FIG) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other brokerages also recently weighed in on FIG. Morgan Stanley cut their price target on shares of Figma from $65.00 to $48.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. The Goldman Sachs Group initiated coverage on shares of Figma in a report on Monday, January 12th. They issued a “neutral” rating and a $40.00 price objective on the stock. Wells Fargo & Company upgraded shares of Figma from an “equal weight” rating to an “overweight” rating and set a $52.00 price objective on the stock in a research note on Thursday, January 8th. Stifel Nicolaus started coverage on shares of Figma in a report on Wednesday, January 7th. They set a “hold” rating and a $40.00 target price for the company. Finally, Barclays raised shares of Figma to a “neutral” rating in a report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Figma presently has a consensus rating of “Hold” and an average price target of $52.13.

Figma Stock Down 4.2%

NYSE:FIG opened at $25.92 on Friday. The firm has a market capitalization of $10.78 billion and a P/E ratio of -9.67. Figma has a 12 month low of $25.91 and a 12 month high of $142.92. The business’s fifty day moving average is $35.11.

Figma (NYSE:FIG) last issued its earnings results on Wednesday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.56) by $1.66. The company had revenue of $274.17 million during the quarter. Figma had a negative return on equity of 84.34% and a negative net margin of 99.32%.The business’s revenue was up 38.0% on a year-over-year basis. During the same quarter last year, the business earned $0.04 EPS.

Insiders Place Their Bets

In other news, CRO Shaunt Voskanian sold 403,335 shares of Figma stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $43.39, for a total value of $17,500,705.65. Following the sale, the executive owned 1,617,326 shares in the company, valued at $70,175,775.14. This trade represents a 19.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brendan Mulligan sold 80,934 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $43.47, for a total transaction of $3,518,200.98. Following the sale, the general counsel directly owned 913,181 shares of the company’s stock, valued at $39,695,978.07. This represents a 8.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,509,988 shares of company stock valued at $209,103,972. Corporate insiders own 45.20% of the company’s stock.

Institutional Investors Weigh In On Figma

Several institutional investors have recently bought and sold shares of FIG. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Figma in the third quarter valued at approximately $26,000. NewEdge Advisors LLC purchased a new stake in shares of Figma during the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Figma in the 3rd quarter valued at $27,000. Sunbelt Securities Inc. purchased a new position in Figma in the 3rd quarter valued at $30,000. Finally, North Star Investment Management Corp. boosted its stake in Figma by 50.0% during the 4th quarter. North Star Investment Management Corp. now owns 1,800 shares of the company’s stock worth $67,000 after purchasing an additional 600 shares during the last quarter.

About Figma

Figma is a San Francisco–based software company that offers a web-based platform for interface design, prototyping and collaboration. Its flagship product, Figma, enables teams to create and refine user interfaces, vector graphics and design systems directly in a browser, eliminating the need for local installations. The platform’s real-time collaboration features allow multiple stakeholders—designers, developers and product managers—to edit and comment simultaneously, streamlining workflows and reducing version control issues.

In addition to its core design tool, Figma provides FigJam, a digital whiteboarding solution that facilitates brainstorming sessions, wireframing and diagramming.